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 | Indian Financial Institutions |
FinMin asks LIC to speed up execution of life cover
he Finance Ministry has directed Life Insurance Corporation (LIC) to immediately operationalise the benefit of life cover under the Pradhan Mantri Jan Dhan Yojana (PMJDY).
LIC has been asked to expeditiously enter into a memorandum of understanding (MoU) with the Indian Banks Association (IBA) for providing this facility, official sources said.
Contrary to earlier stance, the Finance Ministry has now said that National Payments Corporation of India (NPCI) would not be required to enter into MoU with LIC and IBA for providing this life cover benefit.
Canara Bank opens 109 branches
Canara Bank has launched 109 new branches and an equal number of ATMs on the occasion of Founders’ Day on Wednesday. The Bank was founded 109 years ago at Mangalore. At an event organised in Bangalore to celebrate Founders’ Day, Canara Bank Executive Director, VS Krishna Kumar, said the bank was expanding its reach and investing in technology, people and process for faster delivery of products and services to meet expectations of the customers.
To avoid rush, RBI asks firms to remit taxes early
The RBI has requested companies to pay Income Tax in advance using online or alternate channels of banking to avoid last minute rush towards the end of December.
“The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date. It has also stated that assessees can use alternate channels like select branches of agency banks or the facility of online payment of taxes offered by these banks. These will obviate the inconvenience involved in standing in long queues at the Reserve Bank offices,” RBI said in a statement.
Bharatiya Mahila Bank launches net banking
Bharatiya Mahila Bank Ltd (BMB) on Wednesday launched its internet banking facility by the name ‘BMBSmartBanking’.
This facility was launched at the hands of Usha Ananthasubramanian, Chairman and Managing Director, BMB.
A newly designed website of the bank was also launched.
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 | Market Updates |
Sensex sheds 130 points
The Sensex and the Nifty fell nearly 0.5 per cent at the closing session on Wednesday on heavy selling in metal, power and PSU sector stocks amid weak global cues.
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| 19.11.2014 | | Currency | Rate (Rs.) | Change | | USD | 61.83 | -0.02 | | Euro | 77.42 | -0.33 | | GBP | 96.56 | 0.21 | | Yen (100) | 52.71 | 0.26 |
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| 19.11.2014 18.00 | | | Index | Change | | NIFTY | 8,382.30 | -43.60 | | SENSEX | 28,032.85 | -130.44 |
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